A LESS than sparkling outlook for its key Russian market took the fizz out of bottling business Coca-Cola HBC.

Shares in the FTSE 100 company, the world’s second-biggest bottler of Coca-Cola drinks, plunged 73p to 1302p as it warned that volumes would fall for the rest of the year following a “sudden deterioration” in Russia, where consumer spending has been impacted by the escalating crisis in Ukraine.

Russia has also upped the ante in its sanctions battle with western powers by banning imports of a wide range of agricultural and food products.

Although the European Central Bank indicated no immediate need for further stimulus, investors took fright at the likely impact on the faltering eurozone recovery.

Leading European markets fell by an average 1.5 per cent while the FTSE 100 Index dipped 38.79 points to 6597.37.

IG market analyst Chris Beauchamp said: “From airports to salmon fisheries, sanctions will have a wide impact and when the damage to the ailing eurozone economy is considered the worried reaction of European markets becomes more understandable.”

LATIN American copper explorer Metminco struck it 0.1p richer to 1.2p after a court in Chile ruled in its favour over a mining licence for the Mollacas project.

Specialist engineering recruitment firm Matchtech strengthened 6½p to 585½p as it predicted annual figures ahead of expectations on the back of a recovering economy.

Two new patents boosted advanced materials company Graphene NanoChem 6p to 56p.

Telecoms and medical laboratory equipment technologies provider BATM Advanced Communications improved 0.13p to 16.88p as it returned to the black after healthy revenue growth at its medical division. Half-year net profit was £119,000 compared with a loss of just over £1million last time.